VanEck High Yield Muni ETF
Top 10 Holdings
What is HYD?
The VanEck High Yield Muni ETF (HYD) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Broad High Yield Crossover Municipal Index (MHYX), which is intended to track the overall performance of the U.S. dollar-denominated high yield long-term tax-exempt bond market. Lower-rated and unrated U.S. dollar-denominated tax-exempt debt publicly issued in the U.S. domestic market by U.S. states and territories as well as their political subdivisions. The index includes 25% BBB and 5% A investment-grade exposure as well as a 30% cap on non-rated bonds for enhanced liquidity.
ETFs related toHYD
ETFs correlated to HYD include MUB, JMHI, SCMB
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
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We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.